Armao of Armao, Costa & Ricciardi to address labor conference hosted by LaborPress/EmblemHealth

Salvatore Armao, CPA/PFS, CFP, CFE, managing partner of and co-founder of Armao, Costa & Ricciardi, CP As, P.C., will address a group of 200 union officials and members, employee benefit fund managers and pension consultants at a special conference on April 5. Being held from 8 a.m. - 2 p.m. at EmblemHealth Conference Center, 55 Water St., the event is hosted by LaborPress and EmblemHealth. Entitled "Retirement: Securing Our Future," expert speakers will address the topic from several perspectives, including accounting, law, investing and labor. There is no cost to attend but pre-registration is required by contacting [email protected]. Armao will address the subject of Financial Accounting Standards Board's (FASB) New Multi-Employer Pension Plan Disclosure Requirements. "Enhanced disclosures are required in fiscal years ending after December 15, 2011 for public entities and after December 15, 2012 for non-public entities. Much of the additional information employers will need must be provided by the plans. Consequently, plan administrators and boards of trustees need to understand the new standard and should start planning to compile the necessary information for it now," said Armao. Armao, a resident of Howard Beach, Queens,, has been providing accounting, auditing and consulting services to labor unions and Taft-Hartley employee benefit plans for over twenty-five years. While growing up as the son of a union official, Armao learned the importance of fair labor standards and the benefits labor unions provide for their members, including job security, retirement income and medical benefits. That experience has provided him with a unique perspective which he draws upon as a professional providing service to the labor union industry. Secretary and Treasurer of the Garden City Chamber of Commerce, Armao has authored and presented seminars on topics including Department of Labor (DOL) and Internal Revenue Service (IRS) rules and regulations, the Employee Retirement Income Security Act of 1974 (ERISA) and government reporting, as they apply to labor unions and Taft-Hartley employee benefit plans. Mr. Armao, who received a Bachelor of Science in Accounting degree from the City University of New York, Brooklyn College, is a member of numerous trade and professional associations, including the International Foundation of Employee Benefit Plans (IFEBP), the Business and Labor Coalition of New York (BALCONY), the National Institute of Pension Administrators (NIPA), the American Institute of Certified Public Accountants (AICPA), AICPA's Employee Benefit Plan Audit Quality Center (EBPAQC) and the New York State Society of Certified Public Accountants (NYSSCPA). He has earned designations as Certified in Financial Forensics (CFF), Forensic CPA (FCPA) and Certified Fraud Examiner (CFE). He is also a Certified Financial Planner (CFP) and a Personal Financial Specialist (PFS). ABOUT ARMAO, COSTA & RICCIARDI (www.acrcpa.com) For over twenty-five years, Garden City, New York-based Armao, Costa & Ricciardi, CPAs, P.C., with offices in New York City and Greenwich, Connecticut, has provided auditing, tax and financial services to labor unions, employee benefit plans, the construction industry, family owned and closely held businesses, not-for-profit organizations, real estate owners, agents, brokers, developers and investors, professional service firms and high net-worth individuals. In addition to the established services provided by an accounting firm, the professionals at Armao, Costa & Ricciardi are skilled in handling every aspect of its clients' financial life, from business consulting to financial planning. The firm also offers clients non-traditional services which include assistance in procuring surety bonds, bank financing and operational reviews, as well as other management advisory and computer consultation services.